Norway’s Tesla Surge & SpaceX’s $1B Bitcoin Jackpot: Crypto Titans Flex in 2025

Elon’s empire just got a double dose of crypto adrenaline. Norway’s latest push sends Tesla stock soaring—while SpaceX quietly sits on a Bitcoin war chest worth over $1 billion. Who needs traditional finance when you’ve got digital gold?

Tesla’s Nordic Boost

Oslo’s latest green energy incentives have turbocharged Tesla’s market position. No surprise—the EV giant’s been flirting with crypto since its 2021 Bitcoin bet. Now, Norway’s move adds rocket fuel to the fire.

SpaceX’s Silent Crypto Coup

Meanwhile, Musk’s aerospace arm is stacking sats like a Bond villain. Their BTC holdings just cracked the $1B mark—proving even moon missions need a crypto hedge. Take that, Wall Street.

The Punchline

While bankers debate 'volatility,' Musk’s companies are busy printing gains. Maybe the real financial innovation was dodging fiat altogether. (Cue the institutional FOMO.)

Tesla sales in Norway surge despite dissatisfaction with Musk politics

Norwegians are faced with a dilemma where Elon Musk is concerned. Many of them seem to love his car products, but they are struggling to reconcile that love with their dislike of his foray into right-wing politics.

The first half of 2025 saw Tesla sales plunge by half or more in various parts of Europe including Germany, Sweden, Denmark and the Netherlands. However, they grew by 24% year-on-year in Norway, which makes the relatively small country the company’s second-largest European market.

The 12-year relationship between the Nordic nation and the carmaker appears to remain strong, even if it has shown signs of strain. It is believed that this long history has encouraged brand loyalty and insulated against blowback.

“In many ways, you could say Norway helped build Tesla,” Christina Bu, secretary general of the Norwegian EV Association said. “Everyone in Norway knows someone who owns a Tesla. It’s more personal.”

The sentiment, which has been echoed by many other Norwegians, makes it clear Norway holds symbolic importance for the Tesla brand. However, nobody knows how long their loyalty to the brand will last.

Already, it is fraying with research from polling agency Norstat published in February showing 40% of Norway’s Tesla owners now believe Musk’s political activism is negatively affecting the brand, even if more than half of the Tesla owners polled expressed a desire to buy another Tesla.

The EV Maker has also benefitted from a promotional blitz where the company offers zero-interest financing and free supercharging. While the promotion boosted new car sales, it did not prevent steep sales declines in Nordic neighbors Sweden and Denmark, where no Tesla models cracked the list of top-10 sellers in July, according to OFV.

SpaceX has held over $1 billion in Bitcoin before

Arkham data started tracking SpaceX’s BTC holdings since the beginning of 2021, when the firm’s portfolio ROSE to $1.8 billion in April that year.

Around that time, the company owned around 28,000 BTC, but it reportedly reduced its holdings by around 70% in mid-2022, coinciding with the market-wide shock triggered by the meltdown of Terra-Luna in May and the collapse of FTX in November. The company has not added more BTC to its stash since, according to the data.

Tesla also sold off a huge percentage of its bitcoin holdings around the same time as SpaceX and now holds 11,509 BTC, worth approximately $1.42 billion.

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